China also insisted that the U. S. forswear the right to invoke safeguard actions for any other products outside the agreement. That's a deal-killer right there.
More Quotes from Cass Johnson:
The two sides remain far apart. Before now, an agreement was a definite possibility, but China showed no flexibility.Cass Johnson
According to our information over the life of the agreement, China will receive only a minimal increase -- 3.8 percent -- in market access in the 14 largest and most sensitive textile apparel categories as compared to the use of the safeguard.
Cass Johnson
I think the expectation is that they will not make much progress today and the US (team) will go home this afternoon.
Cass Johnson
By using its currency as an economic weapon and by pouring billions of dollars of illegal subsidies into its textile sector, the Chinese government has effectively declared war on U.S. textile producers.
Cass Johnson
To come to an agreement, the Chinese government will have to be willing to move considerably,
Cass Johnson
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